The Egyptian Developers group has announced the launch of its JAYA Business Complex project at the New Administrative Capital (NAC), with targeted sales of about EGP 1bn.
The company’s Chairperson, Abdel Rahman Abo Zaid, said that the project is located on 6,000 sqm with 20,000-sqm in sales area.
Although the plan is to deliver the project within three years, the company plans to deliver it before the pre-set time schedule.
Abo Zaid added that the project is the first for the company at the NAC, and noted that company has an investment plan that guarantees recurring returns to the project’s customers.
“Additionally, the company offers payment plans of between seven and 13 years, with different payment systems to suit all customer strata,” he said.
Abo Zaid added that the price per square metre at the project starts from EGP 18,000.
Abdel Aziz Mohammed, General Manager of Egyptian Developers, said that choosing the NAC to embrace the project is in line with the state’s orientation for developing this promising national project. It also takes into account the presence of distinct investment opportunities at the NAC.
He emphasised that the company’s shareholders have over 18 years’ experience in the real estate sector, relating to the development of various projects.
The shareholder structure also includes investors from Saudi Arabia, who see the Egyptian market as the best investment venue at present.
Mohamed said that the company is self-financing its projects thanks to its financial solvency. This enables it to implement the NAC project without waiting for sales returns, and helps in delivering the project before the pre-set timeframe.